During my working years, I chose 50% "high risk" GIC investment in my RRSP and 50% into "low risk" chosen by the management, at the retirement year before withdrawing, the capital gains were exactly the same figures.
Hello, thank you for the video. After you buy say a share, when you periodically deposit more money into the fund, does it mean buying more shares or? Its still confusing me.
There are roughly 2 parts to the process, and it's similar on most app/platforms. First, when you deposit money into a registered account on an investment app (registered accounts are where you can get tax advantages), at first the money just sits there and is not invested. You can do this manually by transferring money into the account or via auto-deposit where the app automatically deducts a certain amount from your back account every x weeks/months. Second, to invest that money into certain stocks or Index Funds, you can either manually buy them each time, or you can set what's called 'recurring investment', where the app will auto-purchase certain investment products for you. Another way is to use the function 'limit buy', where you set your target price for an investment product. The app will then automatically buy that stock/fund for you once that specified price is reached. If it helps, I will make a step-by-step tutorial in the future!
@@LivinginCanada thank you so much for the reply. I think step by step video will be super helpful especially for a beginner like me. Much appreciated!🙏
Thank you for the great videos, just wondering if you could do a video on the Canadian government bonds? Speaking of not putting all the eggs in one basket, have you heard a theory called "All Weather Portfolio" by Ray Dalio, this might be something good to share.
@@LivinginCanada the least I can do, ur content is extremely helpful for people who wants to get into investing without knowing anything. Everything is really easy to understand and nanny detailed. I wish I had something like this I first stepped into the investing world back then. lol thank u once again!
Thanks for your information. I'm planning to go back Canada and I'm planning to do trading too, but not sure if I do investment... Honestly I keep losing trading on demo, but we can always start with small amount of money, I have fear of losing money in Canada 😅I think I will try trading one year first in Canada see how it goes 😅 I might have to ask bank about RRSP or others, I'm quite confused about tax system in Canada...I don't want to pay many taxes
If the investment pays dividends you will see something called a withholding tax. Essentially this is an income tax for non US Citizens who have us holdings that generate an income and is taken out immediately when the dividend is issued. There is generally is no need to claim it on your taxes. As far as TFSA I believe this tax is still taken on us holdings though I am uncertain. I expect RRSP's also have to pay it but because it is a fund and not a stock holding you will never see the tax. The fund management company would see it instead. Regarding capital gains taxes I have no idea how that works for US stocks but I believe they are paid in canada not the US as your account is canadian. Exchange rate applies I think. I would suggest you talk to a tax accountant to verify all this as I'm not an expert on the subject and may be mistaken on some or most of it.
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During my working years, I chose 50% "high risk" GIC investment in my RRSP and 50% into "low risk" chosen by the management, at the retirement year before withdrawing, the capital gains were exactly the same figures.
Did this video help you to finally start investing? Let me know, I'd love to hear from you! 😎
I started investing only two months ago after seeing your videos and also checking out a few others. Thank you for all the tips.
HI I watched your video and signed up with your reffereal code.Thank you for the information.
Hello, thank you for the video.
After you buy say a share, when you periodically deposit more money into the fund, does it mean buying more shares or? Its still confusing me.
There are roughly 2 parts to the process, and it's similar on most app/platforms.
First, when you deposit money into a registered account on an investment app (registered accounts are where you can get tax advantages), at first the money just sits there and is not invested. You can do this manually by transferring money into the account or via auto-deposit where the app automatically deducts a certain amount from your back account every x weeks/months.
Second, to invest that money into certain stocks or Index Funds, you can either manually buy them each time, or you can set what's called 'recurring investment', where the app will auto-purchase certain investment products for you. Another way is to use the function 'limit buy', where you set your target price for an investment product.
The app will then automatically buy that stock/fund for you once that specified price is reached.
If it helps, I will make a step-by-step tutorial in the future!
@@LivinginCanada thank you so much for the reply. I think step by step video will be super helpful especially for a beginner like me. Much appreciated!🙏
@@LivinginCanadaplease do! I'm a beginner and want to start! Very confused!
Thank you for the great videos, just wondering if you could do a video on the Canadian government bonds? Speaking of not putting all the eggs in one basket, have you heard a theory called "All Weather Portfolio" by Ray Dalio, this might be something good to share.
Thanks for the video ideas!
@@LivinginCanada the least I can do, ur content is extremely helpful for people who wants to get into investing without knowing anything. Everything is really easy to understand and nanny detailed. I wish I had something like this I first stepped into the investing world back then. lol thank u once again!
gah.. keeping that water break in the video making me drink water too.
Hi, really good intro video for beginners 👍
Are you a qualified financial planner 😊
Really good advice.
Glad you think so!
Do you have a video on how to use wealth simple app?
It's coming out next week Friday, stay tuned! :)
Short term investments will be taxed more right?
Thanks for your information. I'm planning to go back Canada and I'm planning to do trading too, but not sure if I do investment...
Honestly I keep losing trading on demo, but we can always start with small amount of money, I have fear of losing money in Canada 😅I think I will try trading one year first in Canada see how it goes 😅
I might have to ask bank about RRSP or others, I'm quite confused about tax system in Canada...I don't want to pay many taxes
Glad if it was useful!
Thanks alot❤
I am watching this video because she is cute. Lol😂
great video thanks
Super great video!! ❤❤❤
Thanks, happy to hear!
@@LivinginCanada you are pretty and amazing! 😍
Great advice!😊👍
Thanks! :)
How exactly will i be taxed say i invested US stocks on either TFsa or RRsp. And how about the cost to hold it for example.
If the investment pays dividends you will see something called a withholding tax. Essentially this is an income tax for non US Citizens who have us holdings that generate an income and is taken out immediately when the dividend is issued. There is generally is no need to claim it on your taxes. As far as TFSA I believe this tax is still taken on us holdings though I am uncertain. I expect RRSP's also have to pay it but because it is a fund and not a stock holding you will never see the tax. The fund management company would see it instead. Regarding capital gains taxes I have no idea how that works for US stocks but I believe they are paid in canada not the US as your account is canadian. Exchange rate applies I think. I would suggest you talk to a tax accountant to verify all this as I'm not an expert on the subject and may be mistaken on some or most of it.
I want to come Canada from Indonesia can I come there, can you help me?